Quotient Wealth Partners LLC Invests $339,000 in Broadridge Financial Solutions, Inc. (NYSE:BR)

Quotient Wealth Partners LLC acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,723 shares of the business services provider’s stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. LifeSteps Financial Inc. bought a new position in shares of Broadridge Financial Solutions in the first quarter worth $32,000. Stuart Chaussee & Associates Inc. bought a new stake in Broadridge Financial Solutions in the fourth quarter worth $34,000. Manchester Capital Management LLC boosted its position in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after buying an additional 60 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at about $34,000. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of Broadridge Financial Solutions by 73.7% in the first quarter. McClarren Financial Advisors Inc. now owns 205 shares of the business services provider’s stock worth $42,000 after buying an additional 87 shares during the period. Institutional investors own 90.03% of the company’s stock.

Insiders Place Their Bets

In other news, President Christopher John Perry sold 162 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the transaction, the president now owns 67,267 shares of the company’s stock, valued at approximately $14,126,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the sale, the director now directly owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Christopher John Perry sold 162 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the sale, the president now directly owns 67,267 shares in the company, valued at $14,126,070. The disclosure for this sale can be found here. Insiders sold 92,648 shares of company stock worth $19,297,633 over the last three months. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

BR has been the subject of several analyst reports. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, Royal Bank of Canada upped their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $213.33.

Broadridge Financial Solutions Trading Down 0.6 %

Shares of BR traded down $1.19 during mid-day trading on Friday, hitting $209.03. 446,492 shares of the company’s stock traded hands, compared to its average volume of 524,622. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $24.70 billion, a P/E ratio of 35.67 and a beta of 1.04. The business’s 50-day moving average price is $206.16 and its 200-day moving average price is $201.73. Broadridge Financial Solutions, Inc. has a 1 year low of $166.73 and a 1 year high of $223.81.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $3.21 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 7.72 EPS for the current fiscal year.

Broadridge Financial Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.88 dividend. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, September 12th. Broadridge Financial Solutions’s dividend payout ratio is presently 60.07%.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.